Panama Inflation

Panama: Inflation slows down again in March

April 11, 2013

In March, consumer prices rose 0.41% over the previous month, which came in below the 0.55% increase recorded in February. According to the National Comptroller's Office (Contraloria General de la Republica), the monthly increase mainly reflected higher prices in the other goods and services category as well as for transport.

Annual headline inflation fell from 4.6% in February to 4.1% in March. Despite having moderated in recent months, the inflation rate remains well above the country's historically low levels. In the country's dollarized economy, authorities lack the freedom to use monetary policy or exchange rate adjustments to reduce inflation.

FocusEconomics Consensus Forecast panellists expect inflation to reach 4.4% this year, which is unchanged from last month's forecast. For 2014, the panel sees inflation inching down to 4.3%.

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According to data released by the National Comptroller’s Office (Contraloría General de la República) on 15 December, in year-on-year terms the economy grew 5.4% in Q3, a slight improvement from Q2’s 5.2% growth, and the second-best performance since the beginning of 2016.